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Restaurant

Lupe Tortilla

703 W Grand Pkwy S, Katy, TX 77494

Listing Price: $4,557,400

Cap Rate
5.00%
Tenant Name
Lupe Tortilla
Years Remaining On Lease
9.1
Guarantor
No Guarantee
Rentable SF
7,500
Lease Type
Ground Lease
Rent Per Square Feet
$29.64

Investment Overview

The offering consists of a 10 year absolute net ground lease to Lupe Tortilla with nine years remaining on the existing term. There are annual rental escalations of approximately 2.5 percent. The building reverts back to the owner of the land when the lease expires. There is one five year option. The land totals 1.85 acres and fronts on Highway 99, the Grand Parkway, just south of Kingsland Boulevard in Katy, Texas. Lupe Tortilla has 18 locations in Houston, Austin, Beaumont, College Station and San Antonio. Houston is its main market with 12 locations. The operator, who has been in business for approximately 30 years, owns and operates four locations: the subject (Grand Parkway), FM 1960, College Station, and Beaumont. Katy, Texas is a dynamic submarket of Houston that is desirable to residents because of its top performing school district, master planned communities, and ease of access to the energy corridor on I-10. Out of 1,200+ school districts in Texas, Katy ISD receives an A+, and ranks #2 for the Houston area and #15 in Texas in Niche's 2021 Best School Districts. Katy is also home to many of the top master planned communities which attracts new residents. Within a one, three and five mile radius respectively, the population totals over 14,943, 118,417, and 282,682 people. Average household incomes are $124,415, $134,223, and $138,114 within a one, three, and five mile radius respectively.

Investment Highlights

  • Absolute Net Ground Lease
  • Annual Rental Escalations of 2.5%
  • Nine Years Remaining on Existing Rental Term
  • Located in Katy, Texas
  • Within Three Miles: Population is 118,417 and AHHI is $134,223

Exclusively Listed By

Financing By

Listing Price: $4,557,400

Cap Rate
5.00%
Tenant Name
Lupe Tortilla
Years Remaining On Lease
9.1
Guarantor
No Guarantee
Rentable SF
7,500
Lease Type
Ground Lease
Rent Per Square Feet
$29.64

Investment Highlights

  • Absolute Net Ground Lease
  • Annual Rental Escalations of 2.5%
  • Nine Years Remaining on Existing Rental Term
  • Located in Katy, Texas
  • Within Three Miles: Population is 118,417 and AHHI is $134,223

Investment Overview

The offering consists of a 10 year absolute net ground lease to Lupe Tortilla with nine years remaining on the existing term. There are annual rental escalations of approximately 2.5 percent. The building reverts back to the owner of the land when the lease expires. There is one five year option. The land totals 1.85 acres and fronts on Highway 99, the Grand Parkway, just south of Kingsland Boulevard in Katy, Texas. Lupe Tortilla has 18 locations in Houston, Austin, Beaumont, College Station and San Antonio. Houston is its main market with 12 locations. The operator, who has been in business for approximately 30 years, owns and operates four locations: the subject (Grand Parkway), FM 1960, College Station, and Beaumont. Katy, Texas is a dynamic submarket of Houston that is desirable to residents because of its top performing school district, master planned communities, and ease of access to the energy corridor on I-10. Out of 1,200+ school districts in Texas, Katy ISD receives an A+, and ranks #2 for the Houston area and #15 in Texas in Niche's 2021 Best School Districts. Katy is also home to many of the top master planned communities which attracts new residents. Within a one, three and five mile radius respectively, the population totals over 14,943, 118,417, and 282,682 people. Average household incomes are $124,415, $134,223, and $138,114 within a one, three, and five mile radius respectively.

Exclusively Listed By

Financing By

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